Investment in Angola totals over US$4 billion over last four years

15 February 2007

Luanda, Angola, 15 Feb – Angola’s national private investment agency, ANIP over the last four years has approved 1,124 investment projects with an overall value of US$4 billion, the chief executive of the agency, Ary de Carvalho said Wednesday in Luanda.

The chief executive, who was speaking during a seminar about investment opportunities in Angola to a business mission from Canada, said that last year alone 463 investment projects had been approved, the highest number over the last three years, with a total value of US$794 million.

Cited by Angolan newspaper, Jornal de Angola, Ary de Carvalho noted that the construction sector saw the highest number of projects approved a total of 238, followed by industry with 173. In terms of investment amounts, 2005 was the year of greatest investment, totaling US$2.6 billion.

The ANIP executive also said that the growth of investment projects approved since 2003 showed the growing interest investors had in doing business in the country, also motivated by macro-economic stability and economic growth. (macauhub)